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About our project
The problem we solve: Every year 500,000 babies and children live for months in hospital and skilled nursing facility instead of living with their parents and siblings at home. Children with Complex Medical Conditions (CMC) need the help of a caregiver at home to be able to live with their families and attend school and day care. Unfortunately because of the way Pediatric Homecare is managed at the moment, many nurses and caregivers are not able to work for pediatric homecare agencies. The salaries are low, unflexible shifts, limited to no ability to make case management decisions or feel ownership on the service drives nurses and caregivers away from this market which is in a huge need for more caregivers and nurses. The total cost of servicing CMC children in the U.S. $100Bn but homecare accounts to only 10% of that cost because of the nursing shortage. We are here to change this and make sure that EVERY Child with CMC can live at home instead of being in a hospital bed.
About our solution:
Our solution implements in the pediatric homecare market the same innovation that changed ride sharing, house renting, hotel booking and so many other similar industries. We take out the agencies that stand between the patient and the nurses in the community and instead connect local nurses to matched patients and their families using our proprietary matching algorithms.
Once the nurse and the family are connected we facilitate an efficient on-boarding. Our platform and call center enables nurse teams to take ownership of the entire pediatric homecare service.
This allows us to pay the nurses more since we don’t have to carry inflated overheads of case managers, recruiters, corporate executives, big offices, and other overheads. We give the nurse teams the ability to create their business on our platform. We help them find clients, attract talent, reduce their administrative burdens.
We give the nurses the ability to create strong relationships with their clients and teams.
Progress to
date:
SwiftShift is a great investment - we were a software provider to the Pediatric homecare market for the last 3 years, our clients included , among others, BAYADA Home Healthcare and Aveanna Health Services - the 2 largest companies in this market. We’ve learned a lot working with our clients and partners and realized that the changes that need to be made in the way Pediatric Homecare is delivered are just not something large companies will ever do. Our platform has delivered over 20 million hours of Pediatric homecare in the last 2 years, which allowed us to fine tune the user experience, data models and performance. We now have a license to deliver pediatric homecare which allows us to connect patients and caregivers directly on our platform and help reduce the time it takes to discharge patients from hospital to a quality homecare service.. We are laucning the service with the first hospitals at the end of this month and are looking to add investors that are passionate about pediatric homecare to our roster of shareholders so that we can create value to everyone who cares about these kids as much as we do. You will be investing alongside AV8.VC (www.av8.vc) and Ganot Capital (insert website) 2 leading investors in the healthcare technology sector.
About Our Team
Creator: Amy Nelson
Location: Minnesota
Education: 20 years experience building successful homec
Bio: Experienced executive and passionate thought leader in the home health and community based service model with 18 years in the industry.
At the age of 18, I founded Accurate Home Care to establish a new standard for home health care, putting people first and living by the mission and vision set forth for 15 years. The company focus was on the chronic-acute population and provided full service capabilities in a concentrated geography of the Upper Midwest.
I am a visionary leader who has been active in changing the regulations and expectations of home and community based services. My leadership approach is one of focusing on innovation, continuous operational and financial improvement, scalability, developing and mentoring productive teams and providing the best customer service model in the market. I am able to identify key issues, apply thoughtful analysis and take quick action to ensure sustainable solutions. My passion is in expanding quality services across the nation with a company dedicated to its employees, clients and mission.
I have developed key relationships with stakeholders across the continuum and been proactively involved in legislative activities. I most recently served on the State of Minnesota's Home Care and Assisted Living Provider Advisory Council. I also have worked on numerous subgroups with the MN Department of Health and MN Department of Human Services. I served as the President of the Professional Home Care Coalition.
Title: COO, Co-Founder
About Our Company
Swiftshift
Location: 149 Fifth Avenue FL 9 New York, NY 10010
Using Swift Shift, agencies and their nurses will allow patients to be able to return home from hospitals, receive reliable care, and manage them in the comfort of their own homes. This saves discharge delay costs, clears beds in hospitals for new patients, and provides greater comfort and personalized care to patients.
Our platform delivered 20 million pediatric Homecare hours. In 2019 alone 10 million pediatric homecare hours were delivered using SwiftShift by homecare
agencies with the following impact:
- 130% increase in average hours delivered per office
- 70% user adoption with over 2,500 weekly active users
- NPS score of 34 - 70% promoters
- Improved discharge and hiring conversions
How We Help Physicians
Our platform helps nurses with:
- Higher pay and better work conditions
- Ability to grow their “micro business” and focus on care
- Ability to work locally
How We Help Hospitals
Our platform helps with hospitals through
- Saving discharge delay costs
- Clearing beds for new intake
- Offering a partner for a home healthcare alternative when it is desired by patients and timing is suitable.
How We Help Partners
Out platform helps with health plans:
- Save money on hospital days
- Happier membership
- Data driven decisions
Challenge Mission
Innovation Details
Intellectual Property Summary
Our intellectual property is the code our team has written to develop our web and mobile platforms.
Clinical Information
The Problem: It’s hard to find reliable pediatric homecare.
- 90% of requests for transition from hospital to homecare get rejected.due to nurse shortages.
- 15% of the children stay in the hospital beyond the discharge date.
- Average delay is 2 months
- 40% of children lose their assigned care team within the 30 days post discharge
- 48% end up readmitted to hospital within 90 days post discharge because of unreliable homecare service
A study performed by Bayada Home Health Care in a pilot project revealed that our software lead to increased talent acquired, stronger retention of health care practitioners and the ability to fill more shifts.
Regulatory Status
N/A - we are a home health care matching platform which doesn't require FDA approval.
How we will use the funds raised
The use of the funds will to market and scale our platform for pediatric home care management. We will allocate part of the funds raised to recruit and hire nurses through partnering agencies and match the pediatric nurses to patients. We will also be investing in our technology to develop a leading web and mobile platform for nurses, home care agencies, referral sources and families needing services.
Each year 500,000 children are in need of Complex Medical Care.
The cost of servicing them is $100 Billion a year due to high use of emergency departments, long hospitalization periods and frequent hospital admissions. Despite being the most cost-effective option, pediatric home care accounts to only is $10 Billion a year. The Pediatric home care market is growing 8.3% a year.
The Problem: It’s hard to find reliable Pediatric home care nurses and aides and
90% of requests for transition from hospital to home care get rejected due to nursing shortages, and a constant battle over effective scheduling and coordination, many times between multiple home care agencies. Over 40% of children lose their assigned care team and have open shifts within the 30 days post discharge and 48% end up readmitted to hospital within 90 days post discharge because of unreliable home care service.
Our Solution:
Empowering the Caregivers to manage home care. Our platform will be used to recruit pediatric care teams and match them with patients. Our platform improves reliability and performance of pediatric home care through:
- training and support for nurses to enable them to make better decisions and perform better
- data provided to care teams to allow them to make better decisions
- replacement of office based case management with nurse case management
Thank You
Each year 500,000 children are in need of Complex Medical Care. The cost of servicing them is $100 Billion a year due to high use of emergency departments, long hospitalization periods and frequent hospital admissions. Despite being the most cost-effective option, pediatric Home care accounts to only is $10 Billion a year. The Pediatric home care market is growing at 8.3% a year.
The Problem: It’s hard to find reliable pediatric homecare and 90% of requests for transition from hospital to homecare get rejected.due to nurse shortages. Over 40% of children lose their assigned care team within the 30 days post discharge and 48% end up readmitted to hospital within 90 days post discharge because of unreliable homecare service.
Our Solution: Empowering the Caregivers to manage homecare. Our platform will be used to recruit pediatric caregives and match them with patients. Our platform improves reliability and performance of pediatric homecare through:
- training and support for nurses to enable them to make better decisions and perform better
- data provided to caregivers to allow them to make better decisions
- replacement of office based case management with nurse case management
With Swift Shift:
- There is a better hiring process as caregivers choose their clients and are hired to work for a specific client and team. The caregiver teams conduct hiring with support of technology in 2-5 days.
- There is better work settings, flexibility, ownership and pride as nurses manage their own cases with the help of a call center and technology.
- As each team grows, it is split to 2 teams. Ensuring continuity of care and relationships.
Investor Info
Market Size
The Total Market Opportunity represented by the home healthcare market is $10 billion per year. It is growing at double digits per month, driven by structural trends. Everyone will need homecare services at some point in their lives.
There is over $1 trillion of annual Medicare and Medicaid managed funding which will go to whoever can prove that they can use homecare to manage healthcare risk and utilization.
Our platform is an avenue to managing risk for 44M Medicare members who expect to grow to over 90M in the next 20 years.
Projected 3 Year Growth
In the next 3 years we expect to be at $30M in revenue, with 70% gross margins, and 3,500 nurses in our network serving patients with 3M billable hours in the network.
Revenue Model
We believe our platform will be used by partnering agencies to recruit and manage caregivers and enable them to care for their homecare patients using technology. Our revenue model is to charge the agencies who employ the nurses a portion of the revenue which the nurses bill to insurance companies for their services.
Competitors
Competition consists of traditional “brick and mortar” homecare operators like Bayada, Aveanna, Vesta. We are a leader by innovating in the home healthcare industry.
Traction
Our marketing funnel has been proven and we have been able to successfully recruit and onboard nurses onto the Swift Shift platform.
In a pilot program we achieved the following:
- 2.7K/4.4K (61%) onboarded on the app, with 2,423 weekly active users
- 57K application hrs received, resulting in 47.6K hrs filled
- 303 field employees participated in our NPS survey and provided a positive score of 20
Due Diligence Docs
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Experienced executive and passionate thought leader in the home health and community based service model with 18 years in the industry.
At the age of 18...
